Companies operating on some form of a Bitcoin standard seem to be growing in number faster than I can keep track of, and there’s no sign of that slowing down. It’s likely this trend continues until the number becomes too large to count.

Investing in a company that holds Bitcoin is essentially a dual bet: on Bitcoin itself and on the company’s ability to execute its strategy well. This approach can offer diversification, leverage, and access through traditional markets, but it also comes with added risks, fees, and less control.

Buying Bitcoin directly is simpler, cheaper, and gives you full ownership, but it lacks the potential upside that a well managed Bitcoin focused company could deliver, and you’re fully responsible for your own custody and security.

Strategy is likely the strongest option for corporate Bitcoin exposure. It has the largest holdings, strong market liquidity, and a consistent, high conviction strategy, making it a good fit for someone already committed to a Bitcoin heavy approach.

Other companies with smaller Bitcoin positions can be less efficient or riskier ways to gain exposure. They may still offer value if you’re looking for diversification, a bargain, or a bet on a unique business model or region, but in many cases, these firms are simply imitating the strategy without the same level of conviction or execution, making them less compelling; unless you’re chasing early momentum or non Bitcoin growth potential.